Newly Acquired: 180-Site MHC Portfolio Acquisition in Pine City & Braham, MN with Projected 17.8% IRR

We are pleased to announce the acquisition of a 180-site mobile home community portfolio located in east-central Minnesota, with an average occupancy of 66.7%. This acquisition will be added to our Crystal View Capital Fund III portfolio, bringing the total number of units/sites managed to over 13,800 for the Fund.

Based on comprehensive financial modeling, we anticipate this asset will deliver a project-level IRR of approximately 17.8%, an MOIC of 2.2x, and a cash-on-cash return of 9% over a five-year hold period.

Value-Add Strategy

• Revenue Growth: Our strategy includes executing 75% of utility reimbursements within the first year, followed by a 6.4% rent increase to bring rates to market in the second year. By moving forward with this, we expect to create approximately $2.6 million in value at a 6.5% cap rate.

• Occupancy Growth: Leveraging our in-house home sales coordination team's deep understanding of Pine City and the surrounding markets, we plan to boost occupancy by bringing in new homes and rehabbing existing ones.

• Community Enhancements: Our in-house asset management team plans to implement upgrades to amenities and essential repairs to improve the living experience for residents through thoughtful improvements and maintenance.

Fund IV currently has over $80 million in the acquisition pipeline, and we are actively looking to deploy capital within the next 30-60 days. To learn more about Fund IV and our investment opportunities, please visit our website or reach out to our investor relations team at invest@crystalviewcapital.com.